Wolfe Research Begins Coverage on Floor & Decor (NYSE:FND)

Key Points

• Wolfe Research has initiated coverage on Floor & Decor (NYSE:FND) with an "underperform" rating and a price target of $76.00, suggesting a potential downside of 12.12% from its previous close.
• Several other analysts have revised their ratings on the stock, with five giving it a Buy rating, nine a Hold rating, and three a Sell rating, leading to an average target price of $87.82.
• Floor & Decor's stock recently traded at $86.49, and the company reported a 7.2% increase in quarterly revenue year-over-year at $1.21 billion, with earnings per share of $0.58.

Equities research analysts at Wolfe Research initiated coverage on shares of Floor & Decor (NYSE:FND - Get Free Report) in a report issued on Thursday, Marketbeat.com reports. The brokerage set an "underperform" rating and a $76.00 price target on the stock. Wolfe Research's price target indicates a potential downside of 6.57% from the stock's previous close.

Several other research firms have also issued reports on FND. Telsey Advisory Group restated an "outperform" rating and issued a $92.00 price objective on shares of Floor & Decor in a research note on Tuesday, August 12th. Wall Street Zen cut Floor & Decor from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Evercore ISI decreased their price target on Floor & Decor from $85.00 to $80.00 and set an "in-line" rating for the company in a report on Tuesday, June 24th. Piper Sandler reduced their target price on Floor & Decor from $80.00 to $78.00 and set a "neutral" rating for the company in a research note on Friday, August 1st. Finally, Guggenheim reduced their target price on Floor & Decor from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $87.82.

Floor & Decor Stock Down 2.4%

Floor & Decor stock traded down $2.03 during mid-day trading on Thursday, hitting $81.34. The company's stock had a trading volume of 870,389 shares, compared to its average volume of 2,087,958. The firm's 50 day moving average is $82.44 and its 200 day moving average is $78.91. The company has a market cap of $8.76 billion, a PE ratio of 41.67, a price-to-earnings-growth ratio of 3.58 and a beta of 1.68. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.25 and a quick ratio of 0.28. Floor & Decor has a 52-week low of $66.01 and a 52-week high of $124.68.

Floor & Decor (NYSE:FND - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.01. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. Floor & Decor had a return on equity of 9.36% and a net margin of 4.59%.The company's revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. Floor & Decor has set its FY 2025 guidance at 1.750-2.000 EPS. On average, analysts anticipate that Floor & Decor will post 2 earnings per share for the current year.

Institutional Trading of Floor & Decor

Several institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Floor & Decor by 42.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 514 shares of the company's stock valued at $41,000 after purchasing an additional 152 shares in the last quarter. State of Wyoming bought a new stake in shares of Floor & Decor in the second quarter worth $46,000. Zions Bancorporation National Association UT bought a new stake in Floor & Decor during the first quarter valued at $47,000. eCIO Inc. bought a new stake in Floor & Decor during the first quarter valued at $62,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Floor & Decor by 42.6% during the first quarter. First Horizon Advisors Inc. now owns 853 shares of the company's stock valued at $69,000 after acquiring an additional 255 shares during the period.

Floor & Decor Company Profile

Floor & Decor Holdings, Inc engages in the retail of hard surface flooring and related accessories. It provides wood, stone, and flooring products. Its products include vinyl, laminate, and tiles with materials installation for living rooms, kitchen, bathrooms, and walls. The company was founded by George Vincent West in 2000 and is headquartered in Atlanta, GA.